Chairman of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba, received Samsung Egypt president Jun Su Jung. They discussed the company’s expansion plans in Egypt.
Samsung Electronics Egypt sales have reached $1.3 billion to become the top seller of electronics in the country, according to a statement by the General Authority for Investment and Free Zones (GAFI). The success of Samsung’s investments in Egypt is driven by the availability of the necessary feeding industries and a skilled workforce.
Samsung investments in the country are worth $500 million and provide 5,000 direct and indirect job opportunities, the statement added.
Heiba and Jun Su Jung also discussed the company’s investment plans in Egypt including acquiring the golden license which gives incentives and eases investment procedures to its holders.
Samsung has benefited from Egypt’s trade and investment agreements with several countries and blocs to expand its sales, Heiba said.
The size of Samsung’s current investments in Egypt amounts to $500 million, with sales worth $1.3 billion. As such, it became the country’s top exporter of electronics relying on trade agreements with various states and blocs.
The company, which has also been producing the tablets distributed among schoolchildren, provides 5,000 direct and indirect jobs.
That is because of three factors that are the availability of the necessary feeding industries, skilled labor, and good investment
